Hedera’s native token, HBAR, is making an effort to recover after experiencing weeks of limited trading activity. Recently, the price nearly touched the $0.10 mark but was unable to settle above this critical threshold. This resistance has constrained upward movement since the start of the month. While HBAR briefly regained a footing at $0.10, its momentum faltered just beneath an important technical barrier. Despite some repositioning among traders, the overall sentiment has not tilted strongly in favor of a robust upward trend.
In more favorable news for HBAR holders, the Money Flow Index (MFI) suggests a gradual buildup of buying pressure. This volume-weighted momentum indicator, which assesses capital inflows and outflows in relation to price and trading volume, is currently above the neutral 50 mark. This positioning indicates buyer dominance is starting to resurface. An MFI reading above the neutral threshold typically points toward accumulation, and an increase in inflows can often lead to price appreciation, particularly with an uptick in trading activity. If this trend persists, HBAR may see sustained accumulation, bolstering its chances of overcoming immediate resistance levels.
Broader derivatives data presents a mixed yet slightly optimistic perspective. HBAR’s funding rate currently favors long positions, suggesting that traders are willing to incur a premium for maintaining bullish contracts. Positive funding rates typically align with expectations of price increases. However, fluctuations in the funding rate over the past two weeks have highlighted underlying uncertainties. Between February 6 and February 11, short contracts dominated the open interest, placing downward pressure on HBAR. This trend has since seen fluctuations, but overall conviction remains tenuous among leveraged traders. While recent shifts indicate a reduction in short dominance, trader sentiment is still overly reactive to short-term price fluctuations rather than showing a firm long-term outlook.
As of the latest data, HBAR is priced at $0.0992, maintaining a position above the support level of $0.0961, which coincides with the 38.2% Fibonacci retracement level. Holding this level is crucial as it serves as an inflection point for potential trend continuation. However, the resistance situated at $0.1035, associated with the 50% Fibonacci retracement, is currently hindering further upward progress.
A decisive break above this resistance at $0.1035 could signal a short-term structural shift in HBAR’s price action. Transforming this level into support could generate renewed demand, especially if the buying pressure continues to build. The next target would be $0.1109, corresponding to the 61.8% Fibonacci retracement, a level closely monitored by traders, which typically serves as a strong support zone once reclaimed.
Conversely, if bullish indicators do not solidify, HBAR may continue to consolidate near current levels. Ongoing outflows would undermine breakout attempts and reinforce the resistance at $0.1035. Should the price dip below the $0.0961 support level, this would indicate a bearish short-term structure, potentially pushing HBAR down toward $0.0870 and erasing any immediate recovery prospects while handing increased control back to sellers.
